Vion backlash against Green’s statements

A backlash from Vion UK chairman Peter Barr has described statements from the Graf Mortgage Corporation managing director Steve Green as inaccurate and untrue.

According to Peter Barr, the things Green has put to the media about Vion’s rejection of the sale of the Hall’s of Broxburn site were untrue and lacked many other important facts.

Barr said: “Mr Green has made reference to ‘a seven-figure bid to buy the factory’, tabled by Graf Mortgage Corporation. He makes no mention of his demand that Vion pay him an eight-figure sum, in cash, to take over the business. In addition, he also fails to reference the fact that he asked for all equipment, vehicles, stock and transitional services to be provided to him at no cost, the value of which we would estimate at a similar amount. In spite of this demand for tens of millions of pounds, Mr Green has been unwilling to provide us with the most basic information to validate his proposal to safeguard the ongoing employment of the workforce.

“He further claims ‘there were no lawyers involved, there were no accountants involved’. Vion has in-house finance and legal teams and we, therefore, have no requirement for external advisors. Mr Green has had significant e-mail communication with our accountants.”

The Vion chairman also said that they had no contact with Mr Green’s accountants or lawyers, other than a brief email.

In heated statements to the press, Green also said he could save all 1,700 jobs at the Hall’s site. However, Barr said that this was directly contradicted in a statement that Green sent to Vion finance directors on Sunday (14 October), when he stated he would reduce jobs at the site by up to 800.

Barr added that he was appalled at the serious inaccuracies and “blatant untruths” that came from Green in his statements to the press. He said: “As we have already stated, Vion was prepared to offer substantial financial assistance to support the acquisition.

“We have on many occasions urged him to provide us with full details of his business plan and funding, which he has refused to do. He also refused to have independent accountants verify the funding he claims is available for the turnaround.

“Sadly, by issuing these inaccurate statements via the media, Mr Green has done nothing to assist the process of progressing a sale of the Hall’s site.”